Global Insulin Pumps (External) Market to Reach US$1.1 Billion by 2015, According to a New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Insulin Pumps (External) market. The global market for Insulin Pumps (External) is forecast to reach US$1.1 billion by 2015. Key factors driving demand for external insulin pumps include epidemic proportion of obesity and related illnesses including diabetes, growing need for efficient control over blood sugar levels, and increasing patient awareness. The relatively painless approach for insulin delivery when compared to conventional insulin injections, convenient monitoring of blood sugar levels, and the absence of severe reactions, are the other factors propelling market growth of external insulin pumps.

Insulin Pumps (External): A Global Strategic Business Report

San Jose, CA (Vocus)October 25, 2010

The prevalence of diabetes is reaching epidemic proportions the world over. This bodes well for the global insulin delivery systems market, the prospects of which appear bright. Demand for insulin delivery systems, such as insulin pumps (external) and insulin pens, is growing at a healthy pace, propelled by a large and growing number of insulin dependent diabetes patients, specifically in the US, Western Europe, and Japan. Approximately US$232 billion was spent globally, on the treatment and prevention of diabetes in the year 2007, and this number is expected to further reach US$300 billion by the year 2025.

Diabetes patients are increasingly adopting insulin pump therapy, due to a host of benefits, including efficiency in delivering small boluses of insulin (preferably for infants), monitoring blood glucose, and the potential to reduce long-term complications. Since the introduction of insulin pumps, various technological developments have taken place in the manufacture of external insulin pumps. With successful implementation of various models, manufacturers have improved the flexibility and programmability of the external insulin pumps with several convenient features.

The US represents the largest global market for external insulin pumps, as stated by the new market research report on Insulin Pumps (External). Diabetes has become a rather common illness in the country, and Americans of all ages and any racial or ethnic group are exposed to the risk of developing this chronic ailment, exhibiting strong growth potential for insulin delivery systems. Pumps represent a key mode of insulin delivery in the US. Insulin pumps is relatively less penetrated across Europe, compared to the US. However, with the Internet and organizations such as INPUT playing a crucial role in promoting the product, insulin pumps are gradually gaining favor of Europeans. The future may however witness increased demand for insulin pumps from emerging economies, including Asia-Pacific. Demand for insulin pumps from Rest of the World markets, other than the US and Europe, is forecast to increase at a compounded annual growth of more than 12% over the analysis period.

Insulin pumps paired with other related products, and referred as combination products, are currently popular in the insulin pump market. Several pump makers, in a strategic move to differentiate their offerings from competitive products, are integrating glucose monitors, wound coverings, and steroid-eluting electrodes with insulin pumps. Moreover, the development of combination products is also aimed towards enhancing the maintenance of glycemic control in insulin users. Major companies engaged in the development of integrated blood glucose monitoring/ insulin pump devices include Roche Disetronic, Medtronic, Becton Dickinson, Deltec, and Animas.

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.